Lessor Tax definition
Examples of Lessor Tax in a sentence
Lessor shall be responsible for the cost and expense of premiums for the insurance in clause (ii) of the definition of "Lessor Tax, Insurance and Cap Ex Obligations." Lessee shall be responsible for the cost and expense of premiums for all other insurance required to be maintained by this Lease.
The Adjusted Gross Operating Profit from operations of the Hotels for the applicable Fiscal Year determined in accordance with the provisions of this Lease less Lessor Tax, Insurance and Cap Ex Obligations.
Lessor shall pay the taxes referenced in clause (i) of the definition of "Lessor Tax, Insurance and Cap Ex Obligations." Subject to Article XII relating to permitted contests, Lessee will pay, or cause to be paid, all Impositions before any fine, penalty, interest or cost may be added for non-payment, such payments to be made directly to the taxing or other authorities where feasible, and will promptly furnish to Lessor copies of official receipts or other satisfactory proof evidencing such payments.
Pursuant to Section 5 of the Prime Lease, Sublessor is obligated to pay to Prime Lessor "Tax Excess" (as defined therein) based on Tenant's Tax Base Year Amount, which is the amount of aggregate Taxes (as therein defined) for Fiscal Year 1992 and based on Tenant's Tax Percentage (as defined therein) ("Sublessor's Taxes").
If, because of a breach of this Section 4(a), Recovery Deductions or Depreciation Deductions are lost, reduced, deferred, recaptured or otherwise made unavailable to Lessor (Tax Loss), Lessee shall, upon demand by Lessor, promptly pay damages to Lessor.
From time to time upon notice to Lessee by Lessor, Tax Deposits shall be increased to such amounts as may be necessary from time to time to provide a fund sufficient to meet the payment of the annual real estate taxes imposed upon the Combined Premises (or any installment thereof) as and when due and payable, whether on the present dates of payment or on such other dates as may be fixed by law.
TAXES; TAX INDEMNITY 62 21.1. Indemnity 62 21.2. VAT 65 21.3. Lessor Tax Certificates 65 21.4. Withholding Tax Exemption Certificates 66 21.5. Tax Filings; Information 66 21.6. Payment of Taxes and Indemnities 67 21.7. Contest 67 21.8. Survival 70 21.9. Change in Circumstances; Mitigation 70 22.
With respect to any Tax Indemnitee that is Lessor or any Affiliate thereof (a “Lessor Tax Indemnitee”) at Lessee’s written request and with the written consent of Lessor, Lessee shall be entitled to contest any claim with respect to any Tax imposed on such Lessor Tax Indemnitee other than an Income Tax either in Lessee’s name or in the name of such Lessor Tax Indemnitee at Lessee’s sole cost and expense (a “Lessee Controlled Contest”).
If Lessor does not directly pay the Lessor Tax Contribution prior to such Taxes being delinquent, then Lessee upon notice to Lessor may from time to time set-off the amount owed by ▇▇▇▇▇▇ (together with interest at the Prime Rate on the Lessor Tax Contribution) against installments of Rent due hereafter.
Lessor shall pay to Lessee any amounts received in connection with any Lessor Tax protest less the costs incurred by Lessor in such protest, provided Lessee provided the funds for payment of the Tax under protest.